Better to short circuit the sale if you can. - Posted by Dr. Craig Whisler CA NV
Posted by Dr. Craig Whisler CA NV on September 16, 2003 at 20:08:00:
I have done lots of mobile home lien sales in California. They are probably the same as a Sheriff’s sale in WA. Usually the minimun bid is the amount owed for back space rent plus the costs of the sale. For this reason all back space rent will be already added into the minum bid, hense no back rent should be due after the sale, though there may be some back taxes due. You usually pay all cash, on the spot, if you are the winning bidder.
If you don’t want to have to bid competitively, there may be a way to short circuit the sale and surprise other interested parties. If you can locate the person losing the mobile you can probably buy it directly from them before the Sheriff’s sale. You ought to be able to buy their title for $100 or less since they will be losing everything in a few days at the sale (unless there are overbids). Then run over to the Sheriffs office quickly before the sale and pay the bill. Then you will own the mobile home and the sale will be canceled. Neat huh? No competitive bidding. You get it at the minimum bid price. Just stop by your local Sheriff’s office and ask them for details on how it works. You could probally check out your state’s laws governing Sheriff’s sales, either on line, or at your local law library.
I would suggest that you try to short circuit the sale by buying the mobile home ahead of time. This will prevent either the park itself, or other bidders, from bidding up the price higher than it is now. This is what I do, when ever I can locate the previous owner. If you have a week or so, and if it is a great deal, don’t hesitate to hire a dective to locate missing owners.
I am talking about this sale ONLY. If a sale comes up in another park, just be sure not to do this, or bid at the sale, until and unless, you have checked first to determine that you can get the parks approval for you to buy and sell in their park. If you don’t, they will not likely approve any of your buyers and you can really get stuck with a lot of space rent and/or the costs of having to move your mobile out of the park.
This is a little more advanced, but if you cannot locate the owner, and if their is a lien holder, you can attempt to buy their interest and then use it to give you standing to pay off the back rent etc. before the sale. You can then foreclose your lender’s interest according to the laws of your state. This might be kind of juicy if there is a newer, expensive, mobile home and an out of state lender, epecially if the lender is in bankruptcy or hurting financially. Hey, how much does a couple of phone call cost?
Good luck and let us know what happens.